Palatin Technologies’ (PTN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research note released on Thursday,Benzinga reports. The firm currently has a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 12.5 %

Shares of Palatin Technologies stock opened at $0.97 on Thursday. The stock has a market capitalization of $18.92 million, a P/E ratio of -0.49 and a beta of 0.90. Palatin Technologies has a 52-week low of $0.68 and a 52-week high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, sell-side analysts forecast that Palatin Technologies will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Palatin Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PTN. Virtu Financial LLC bought a new stake in Palatin Technologies during the third quarter valued at $51,000. XTX Topco Ltd raised its holdings in shares of Palatin Technologies by 98.6% in the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 14,432 shares in the last quarter. Finally, Armistice Capital LLC purchased a new stake in shares of Palatin Technologies in the 2nd quarter valued at about $3,272,000. 11.50% of the stock is owned by hedge funds and other institutional investors.

About Palatin Technologies

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.